Ripple’s XRP Price Plunges as Whales Sell, Leaving Market Vulnerable

The cryptocurrency market experienced a slight pullback recently, likely triggered by anticipation of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. This move also coincided with the offloading of 470 million XRP by large whales, driving prices down and leading to increased selling pressure. While whales remain active in the market, displaying consistent buying activity during price dips. Despite this recent dip, there were significant inflows to exchanges such as Binance, which may contribute to further volatility. This trend has been noticed by crypto analyst Ali Martinez, who reported a steady rise of XRP holdings from large wallets after several periods of selling and buying activity.